Legal & General Group Plc Purchases 109,184 Shares of OGE Energy Corp. (NYSE:OGE)

Legal & General Group Plc increased its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,108,618 shares of the utilities provider's stock after purchasing an additional 109,184 shares during the quarter. Legal & General Group Plc owned approximately 0.55% of OGE Energy worth $45,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OGE. Headlands Technologies LLC bought a new stake in shares of OGE Energy during the fourth quarter worth approximately $27,000. Stonebridge Financial Group LLC acquired a new position in shares of OGE Energy in the 4th quarter valued at $35,000. Principal Securities Inc. boosted its position in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after purchasing an additional 659 shares during the last quarter. BankPlus Trust Department bought a new stake in OGE Energy in the fourth quarter valued at about $44,000. Finally, Lee Danner & Bass Inc. acquired a new position in OGE Energy in the fourth quarter valued at about $45,000. 71.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OGE shares. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research note on Monday, March 17th. Barclays lifted their price target on shares of OGE Energy from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 25th. Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Finally, Argus raised OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, OGE Energy has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

OGE Energy Stock Up 0.7 %

NYSE:OGE traded up $0.31 during trading hours on Friday, reaching $45.01. 887,360 shares of the stock were exchanged, compared to its average volume of 1,169,796. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. OGE Energy Corp. has a twelve month low of $32.83 and a twelve month high of $46.91. The stock has a market cap of $9.06 billion, a PE ratio of 20.46, a PEG ratio of 3.30 and a beta of 0.57. The firm has a 50 day moving average of $44.53 and a 200 day moving average of $42.70.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Monday, April 7th. OGE Energy's payout ratio is 76.36%.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.